Samsung believes it will sell 20 million foldables next year

Samsung has set an ambitious sales target of 20 million foldable smartphones for 2024, according to a report by a Korean media outlet. This goal encompasses the upcoming Galaxy Z Fold 6 and Flip 6, as well as Samsung’s current foldable phones, the Z Fold 5 and Flip 5.

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Achieving this sales target will be challenging due to the competitive nature of the foldable hardware market. Competitors such as Motorola’s Razr and Razr Plus, along with Google’s Pixel Fold, offer their own interpretations of flip phones, directly competing with Samsung’s offerings in terms of flagship features, pricing, camera capabilities, and outer displays. Emerging brands like Xiaomi, Huawei, and Honor also have their foldable smartphones, pushing the envelope with innovative designs and features. For example, Honor recently launched the Magic V2, a book-style device that’s exceptionally thin and lightweight compared to Samsung’s offerings.

To maintain its lead in the foldable smartphone market, Samsung is rumoured to be working on making the Galaxy Z Fold 6’s display even thinner. The Galaxy Z Fold 5 already achieved a thickness of 13.4 mm when folded, which is 2 mm thinner than its predecessor. However, specific details about how much thinner the next iteration will be remain unknown.

Whether these improvements will be sufficient to meet Samsung’s ambitious sales target for 2024 remains uncertain. This year, Samsung is expected to fall short of its 2023 sales goal, with plans to ship only 10 million foldable devices. To achieve next year’s projection, the company will need to effectively double its foldable phone sales compared to this year.